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This content is reserved for Global Insolvency Members or members of the American Bankruptcy Institute. Create an account now to gain access. Enjoy free membership for a limited time.
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For years, high rollers from China have flouted their country’s ban on gambling by getting their fix online. Livestreamed games of baccarat, roulette, poker and more feature young women sitting behind tables, dealing cards and spinning wheels. While the players are in China, the croupiers on their screens are often far away in studios in the Philippine capital Manila, the Wall Street Journal reported. Filipino officials say many of these operations are also run and staffed by Chinese nationals.
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The Philippine central bank kept its policy rate unchanged as it continues efforts to tame inflation and support the country’s currency, the Wall Street Journal reported. Bangko Sentral ng Pilipinas Gov. Eli Remolona said Thursday that the central bank maintained its benchmark overnight reverse repurchase rate at 6.50%. It also held its benchmark lending rate steady at 7.00%. The country’s consumer-price index for May rose 3.9% from a year earlier, edging higher from a 3.8% increase in April. That is near the upper end of the central bank’s inflation target range of 2%-4%.
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The Philippine central bank held its policy rate steady as it continues to guard against inflation risks, but the meeting has stirred speculation that its hawkish stance is softening, the Wall Street Journal reported. Bangko Sentral ng Pilipinas kept its benchmark overnight reverse repurchase rate unchanged at 6.50% on Thursday, extending a policy pause stretching back to November 2023. It also maintained its benchmark lending rate at 7.00%. Gov.
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The Philippines central bank kept its policy rate unchanged as widely expected, extending its pause as a recent pickup in inflation resurfaces concerns about price pressures in the country, the Wall Street Journal reported. Bangko Sentral ng Pilipinas Gov. Eli Remolona said Monday that the central bank maintained its benchmark overnight reverse repurchase rate at 6.50%, deeming it appropriate to keep monetary policy settings tight. It held its benchmark lending rate at 7.00%.
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Philippine central bank Governor Eli Remolona said he is open to an unscheduled interest-rate hike before the November meeting and that a pivot to easing was unlikely in the first half of 2024, Bloomberg News reported. “I am open to an off-cycle increase,” he said in an interview with Bloomberg News in Manila on Monday, acknowledging that his rhetoric has become “more hawkish” since taking office in July.
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The Philippine central bank left its benchmark interest rate unchanged for a third straight meeting as the economy slowed while signaling that policy settings will remain tight amid inflation risks, Bloomberg News reported. The Bangko Sentral ng Pilipinas maintained its overnight reverse repurchase rate at 6.25% on Thursday during Eli Remolona’s first policy decision as governor. The move was predicted by 22 of 24 economists in a Bloomberg survey, with two expecting a rate hike.
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